Stocks finished an abbreviated week before Christmas slightly on the upside, as Santa decided to put gains into investors’ stockings
The TSX Composite Index gained 51.44 points to break for Christmas at 17,180.15
The Canadian dollar sank 0.07 cents to 75.98 cents U.S.
Gold led the proceedings, with OceanaGold triumphing 21 cents, or 9.3%, to $2.46, while Yamana Gold picked up 27 cents, or 5.7%, to $4.99.
In other resource stocks, First Majestic Silver leaped 92 cents, or 6.2%, to $15.67, while MAG Silver gained 95 cents, or 6.5%, to $15.58.
Among industrials, Bombardier moved up four cents, or 2.1%, to $1.92, while Transcontinental added 29 cents, or 1.9%, to $15.76.
Communications faded a bit, as Rogers lost 18 cents to $64.81, while BCE fell 16 cents to $60.70.
Financials suffered, with CIBC docking $1.76, or 1.6%, to $108.56, while Home Capital doffed 39 cents, or 1.2%, to $33.11.
Among energy stocks, Tourmaline floundered 24 cents, or 1.6%, to $15.07, while Enerplus slid eight cents to $9.20.
Cooperation with the Organization of the Petroleum Exporting Countries would continue "until the market requires it", Russian Energy Minister Alexander Novak, said in an interview on Monday.
Markets in Toronto closed at 1 p.m. ET for Christmas Eve and shall remain closed on Wednesday for Christmas and Thursday for Boxing Day. Friday will be a regular trading day.
ON BAYSTREET
The TSX Venture Exchange added 2.07 points to 556
Eight of the 12 subgroups ended Christmas Eve higher, as gold shone 2.6% brighter, materials were 2% stronger, and industrials eked their way 0.2% into the black.
The four laggards were weighed by communications, sliding 0.3%, financials, off 0.2%, and energy, docking 0.04%.
ON WALLSTREET
The S&P 500 was flat and the NASDAQ Composite edged higher to another new record in muted Christmas Eve trading.
The Dow Jones Industrials fell back 36.08 points to 28,515.45
The S&P 500 subtracted 0.63 points to 3,223.38.
The NASDAQ gained 7.24 points to 8,952.88, posting its ninth consecutive record close for the first time since 1998
The three major averages all posted record closes on Monday. The S&P 500 has risen 2.6% for December and 8.3% for the quarter. It is also on pace for its best annual performance in six years, up 28.6% for 2019 through Monday’s close. If the benchmark ends the year up 31%, it will score the best year since 1997.
Investors cheered the news this week that China is taking action to goose its economy. The country said it will boost imports by cutting tariffs on over 850 products.
Beijing also said it would study additional cuts in the bank reserve-ratio requirements. The moves come as China and the U.S. agreed on a phase-one trade deal and the two sides are working to ink the agreement.
The U.S. stock market closed at 1 p.m. ET on Tuesday for Christmas Eve and will be closed on Wednesday for Christmas. Thursday and Friday will be regular trading days.
Prices for the 10-Year U.S. Treasury gained, lowering yields to 1.91% from Monday’s 1.93%. Treasury prices and yields move in opposite directions.
Oil prices gained 47 cents to $60.99 U.S. a barrel.
Gold prices hiked $15.40 at $1,504.10 U.S. an ounce.
